friend getting married - what happens if the worse were to occur?

EachPenny

The main issue is whether they plan to have children together. If it is just a couple splitting up then the finances can be sorted relatively easily.

However, as soon as you have children the primary concern of the court will (rightly) be the children. Most parents will have the same view of course. The court will look at the need to provide the children with a home which will bias a split of the finances towards the parent the children live with for the majority of the time. This will not totally exclude the housing needs of the other parent, especially if the children will also be staying/living with both parents.

As the house is usually the main asset a couple has, and this is needed to give the children their 'main' home until they are 18, then very often it is difficult to achieve a fair spilt of the assets until that time. So, if your friend marries and has kids, then the worst happens, he will need to be able to afford to rehouse himself whilst also paying maintenance for the children and possibly to the ex-wife. (assuming they decide the children will live with her).

Most parents will agree that it is right and necessary for one to retain the main home for the children - but not everybody does. It can be very tough financially for the partner who doesn't have the home.

If your friend doesn't think he would be willing to hand more or less everything he owns to the wife for up to 18 years, and doesn't think that this would be the right thing to do for the benefit of his children - then he should rethink the idea of marriage, and certainly think very carefully before starting a family.

elephantrosie

ever wonder why everyone wishes to marry a richer person than themselves?

kidmugsy

economic wrote: »

are all assets protected that have been acquired before marriage, from a divorce?

When last I knew about these things the answer was (i) In Scotland, yes. (ii) In England & Wales, no.

fun4everyone

Do we have an extradition treaty with Brazil? Asking for a friend.

bigadaj

atush wrote: »

Tell him not to sleep around, then maybe the marriage will stick.

Won't really help him if she does though.....

Biggles

economic wrote: »

if the worse were to happen then he would lose half of it.

Well, no, if the worst were to happen, he'd lose all of it.

It's only if he gets divorced he might lose half of it.

Zanderman

elephantrosie wrote: »

ever wonder why everyone wishes to marry a richer person than themselves?

The vast majority of engaged couples will have one 'richer' than the other (unless you think every engaged couple earns exactly the same amount and have exactly the same assets as each other).

The vast majority, of this vast majority, will be marrying because they want to marry, not because one earns more than the other.

atush

bigadaj wrote: »

Won't really help him if she does though.....

Of course. But i'd take bets on it

Glen_Clark

'With all my worldly goods I thee endow'
Don't say it if you don't mean it.

TheTracker

I consider that from the moment I was married everything each of us had was joined and became equal in rights to ownership, and I say that having had 95% of worth before that moment. If the risk of divorce and consequential asset loss had bothered me as much as it bothers you, sorry I mean your friend, I wouldn't have married in the first place.